How regularly have you heard the expression “Bitcoin is the cash of things to come” and that the “best an ideal opportunity to contribute is presently”? Likely occasions to cause […]
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Ethereum (ETH/USD) benefitted from an improving risk profile early in the Asian session as traders sought to add to recent upside progress that saw the pair eclipse the psychologically-important 2500 figure for the first time in several weeks. Recent buying pressure around the 2422.31 level represented a test of the 38.2% retracement of the recent appreciating range from 2317.51 to 2484. ETH/USD scored gains of 7.3% in July and has notched gains of more than 232% year-to-date.
Above recent areas of technical significance, additional upside retracement levels include the 2631.60, 2657.89, 2725.47, 2742.76, 2913.68, 3042.22, and 3056.22 levels. Following the recent ascent to multi-week highs, downside price retracement levels include 2333.53, 2303.32, 2191.54, 2041.42, and 2000.49 areas. Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly). Also, the 50-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).
Price activity is nearest the 50-bar MA (4-hourly) at 2268.66 and the 50-bar MA (Hourly) at 2394.04.
Technical Support is expected around 1700/ 1633.51/ 1456.03 with Stops expected below.
Technical Resistance is expected around 3122.22/ 3420.10/ 3788.66 with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
Disclaimer: This trading analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
A priority transaction network for Ethereum saw a launch in advance of the highly anticipated London hardfork and EIP-1559. It seeks to end the menace of miner extractable value (MEV) and protects on-chain traders from being ‘front run’ on their trades.
Called the Eden Network, the protocol protects traders from frontrunning, creating new incentives for block producers following the implementation of EIP-1559 and redistributes miner extractable value (MEV) in a more equitable way.
Miner extractable value is the process of deliberately rearranging the order of transactions within a block that is being added to a blockchain. Blackhat bot developers or malicious miners can execute harmful arbitrage strategies to extract MEV, such as frontrunning or sandwich attacks.
These attacks ultimately hurt traders and siphon massive amounts of value out of the Ethereum ecosystem: It’s estimated that more than $800M has been extracted by MEV since January 1, 2020.
The Eden Network is an optional, non-consensus-breaking transaction ordering protocol that is designed to minimize MEV in Ethereum. It allows network participants to rent priority slots and guarantee placement within Ethereum blocks.
In addition to facilitating priority transactions, it also inherently protects against arbitrary transaction reordering, which is the main source of malicious MEV, and offers users and traders a private venue to execute transactions outside the view of Ethereum’s public transaction pool.
“EIP-1559 is the most important upgrade in the history of Ethereum. While it solves some of its major problems, like high gas fees and priority gas auctions, it creates others by slashing block producer revenue, which inadvertently incentivizes MEV,” explained Caleb Sheridan, a core developer of the Eden Network.
He added, “Some MEV is actually healthy, such as the arbitrageurs who push prices back in line. So rather than trying to block all MEV, the Eden Network captures MEV, without harming users or block producers, and redistributes it in a more equitable way to all of the network’s stakeholders. It’s a win-win for everyone.”
Through Eden Network, slots within a block are tokenized and made available for lease. The first three slots in each block are occupied by Slot Tenants, which are determined using a continuous auction mechanism in the network’s native token, EDEN.
Any network participant can outstake a current Slot Tenant. Each tenant can submit as many transactions as they want until they reach the 1.5M gas limit. Any remaining gas is automatically allocated to the following Slot Tenant’s transactions to conserve blockspace.
Alpha, BAND, Sushi, and a few more projects will be among the network’s partners at launch
On Aug 2, Eden will be live and free to use on the Sushi platform. as Sushiswap is occupying a slot on Eden Network, all Sushi transactions (up to 1.5M units of gas per block) are frontrun resistant via Eden Relay, where transactions are processed privately and have full MEV protection.
The post This protocol protects DeFi traders from being ‘front run’ on Ethereum appeared first on CryptoSlate.
Bitcoin (BTC/USD) sought to add to recent gains early in the Asian session following strong performance in July that saw the pair gain 18.5% last month, and more than 43% year-to-date. Stops were recently elected above the 42311.77 level during the appreciation to multi-week highs, an area that represents the 50% retracement of the depreciating range from 58359.53 to 26264. Recent buying pressure has seen BTC/USD test the 38182.30 area, representing the 23.6% retracement of the recent appreciating range from 29301.56 to 40925.56.
Above recent areas of technical significance, additional upside retracement levels include the 43016, 43549.50, 44017.07, 44336.95, and 45708.51 areas. Following the recent ascent to multi-week highs, downside price retracement levels include 39319.93, 37405.42, 35858.09, 34310.75, and 32396.24. Traders are observing that the 50-bar MA (4-hourly) is bullishly indicating above the 100-bar MA (4-hourly) and above the 200-bar MA (4-hourly). Also, the 200-bar MA (hourly) is bullishly indicating above the 100-bar MA (hourly) and above the 200-bar MA (hourly).
Price activity is nearest the 50-bar MA (4-hourly) at 37707.25 and the 50-bar MA (Hourly) at 40284.27.
Technical Support is expected around 28747.28/ 27706.27/ 27175.66 with Stops expected below.
Technical Resistance is expected around 46000/ 51569.56/ 64899 with Stops expected above.
On 4-Hourly chart, SlowK is Bearishly below SlowD while MACD is Bullishly above MACDAverage.
On 60-minute chart, SlowK is Bearishly below SlowD while MACD is Bearishly below MACDAverage.
Disclaimer: This trading analysis is provided by a third party, and for informational purposes only. It does not reflect the views of Crypto Daily, nor is it intended to be used as legal, tax, investment, or financial advice.
PrimeXBT is a Bitcoin-based multi-asset margin trading platform that, while built on the foundations of the traditional market, is geared towards diversifying advanced trading tools, instruments and products. The platform […]
The post PrimeXBT: A bitcoin-based margin trading platform with a lot to offer (2020 review) appeared first on Cryptorials.
Changelly welcomes a new HoloToken (HOT) to the list of 200+ crypto assets available for smooth crypto swap and purchase. Starting today, users can seamlessly exchange HOT at both floating and fixed rates.
Holo is a bridge for hosting decentralized applications (dApps) created on the Holochain platform. According to Holo’s green paper, “Holo takes hosting of sophisticated social applications out of centralized data centers to the edges of the Internet where our devices live. It makes self-scaling infrastructure a reality through peer-to-peer architecture, which automatically performs load-balancing and load-sharing across thousands or even millions of peers”.
Initially, an ERC-20 HoloToken (HOT) was used as an IOU (I-Owe-You) instrument during Holo’s Initial Token Offering (ICO) in 2018. The attracted funds were used for the development of both Holo and Holochain platforms. Once the Holo project steps into the Beta release, HOT tokens will be 1:1 replaced with HoloFuel – a token that is designed for microtransactions that will be used as a reward for hosts.
“It is so exciting to see such a truly dedicated project on the Changelly platform. Welcome to the family, HoloToken.”
Changelly’s CEO, Eric Benz.
Holo is a peer-to-peer distributed platform for hosting decentralized applications built using Holochain, a framework for developing DApps that does not require the use of blockchain technology. The goal of Holo is to serve as a bridge between the broader internet and apps built using Holochain, offering an ecosystem and marketplace in which DApps are easily accessible, as they are hosted on the internet by Holo network participants.
The Holo network will be facilitated using a token called HoloFuel, which is actively being tested and will act as an accounting system to pay hosts for their services. In 2018, the project minted an ERC-20 token, HOT — also known as HoloToken — as an “IOU” that will be redeemable for HoloFuel upon launch. Holo is still in development and is expected to launch for open alpha and beta testing by 2021.
Learn more about Holochain:
Website: https://holo.host/
Twitter: https://twitter.com/H_O_L_O_
Reddit: https://www.reddit.com/r/holochain/
Telegram: https://t.me/channelholo
Changelly provides an ecosystem of products and services that enables customers to have a one-stop-shop experience when engaging with crypto. Operating since 2015, Changelly acts as an intermediary between crypto exchanges and users, offering access to 200+ cryptocurrencies that can be effortlessly swapped within 10 minutes on desktop and on the go via Changelly mobile app.
In 2020, Changelly branched out to accommodate the needs of traders. PRO has been built as a platform focused on the customer’s needs, effectively enabling retail buying and selling digital tokens and coins. Piggy-backing on the great support system found within Changelly, Changelly PRO will provide the community with high limits, effective pricing, fast execution and 24/7 live support.
Learn more about Changelly:
Changelly: changelly.com
Changelly PRO: pro.changelly.com
Twitter: twitter.com/Changelly_team
The post It’s Gonna Be HOT: Changelly Lists Holo’s HOT Token appeared first on Cryptocurrency News & Trading Tips – Crypto Blog by Changelly.
XRP’s projected growth paints a steady, if unspectacular, picture. At an estimated $3.43 in 2026, $4.17 in 2030, $5.33 in 2035, and $6.80 ...
